Is $159 next for Solana, or higher?
Is $159 next for Solana, or higher?
As we complete wave iv of 3 of the larger 1, we have to be on our toes. While I believe we still need a larger 4th and 5th wave up to $171-$195 region... with this pending more high into $159, one can structurally argue we will have a 5 wave pattern in place.
Let me explain:
RN Elliott explained the basic concept of alternation is a nature’s law that we can consider it as valid. For example, the Moon alternates in four phases, the day alternate in two stages. Also, human activities alternate, for example, the bull market alternates with the bear market. From the Elliott Wave Theory, we know that it has five waves, 1, 3, and 5 are motive waves; and 2, and 4 are corrective waves.
Waves 2 and 4 tend to alternate in both complexity and duration. Our wave 2 almost retraced the entirety of wave 1 in the yellow count on the chart. So we know it was a very deep retracement. If our wave 4 plays out in alternate fashion, then it will be shallow. Potentially very shallow. Now this is NOT my base-case, but I have labeled the latest chart with an BLACK Alternate Count.
So the big question is will this top in the next high, or not? Stay tuned.
Follow me to get questions answered.
Maikisch
As we complete wave iv of 3 of the larger 1, we have to be on our toes. While I believe we still need a larger 4th and 5th wave up to $171-$195 region... with this pending more high into $159, one can structurally argue we will have a 5 wave pattern in place.
Let me explain:
RN Elliott explained the basic concept of alternation is a nature’s law that we can consider it as valid. For example, the Moon alternates in four phases, the day alternate in two stages. Also, human activities alternate, for example, the bull market alternates with the bear market. From the Elliott Wave Theory, we know that it has five waves, 1, 3, and 5 are motive waves; and 2, and 4 are corrective waves.
Waves 2 and 4 tend to alternate in both complexity and duration. Our wave 2 almost retraced the entirety of wave 1 in the yellow count on the chart. So we know it was a very deep retracement. If our wave 4 plays out in alternate fashion, then it will be shallow. Potentially very shallow. Now this is NOT my base-case, but I have labeled the latest chart with an BLACK Alternate Count.
So the big question is will this top in the next high, or not? Stay tuned.
Follow me to get questions answered.
Maikisch
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